XML 85 R51.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Supplemental Information on Oil and Gas Operations (Unaudited) (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Oil And Gas Exploration And Production Industries Disclosures [Abstract] |
Costs Incurred | The following tables reflect the costs incurred in oil and gas property acquisition, exploration and development activities.
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
Property acquisition costs: |  |  |  |  |  |  |  |  |  |  |  |
Proved properties |  | $ | 7,017 |  |  | $ | — |  |  | $ | — |
Unproved properties |  |  | 2,381 |  |  |  | 8 |  |  |  | 35 |
Exploration costs |  |  | 212 |  |  |  | 159 |  |  |  | 312 |
Development costs |  |  | 1,643 |  |  |  | 820 |  |  |  | 1,499 |
Costs incurred |  | $ | 11,253 |  |  | $ | 987 |  |  | $ | 1,846 |
Results Of Operations |
|  | Year Ended December 31,
|  | 2021 |  |  | 2020 |  |  | 2019 |  |
Oil, gas and NGL sales |  | $ | 9,531 |  |  | $ | 2,695 |  |  | $ | 3,809 |  |
Production expenses |  |  | (2,131 | ) |  |  | (1,123 | ) |  |  | (1,197 | ) |
Exploration expenses |  |  | (14 | ) |  |  | (167 | ) |  |  | (58 | ) |
Depreciation, depletion and amortization |  |  | (2,050 | ) |  |  | (1,207 | ) |  |  | (1,398 | ) |
Asset dispositions |  |  | 170 |  |  |  | — |  |  |  | 37 |  |
Asset impairments |  |  | — |  |  |  | (2,664 | ) |  |  | — |  |
Accretion of asset retirement obligations |  |  | (28 | ) |  |  | (20 | ) |  |  | (21 | ) |
Income tax expense |  |  | (1,238 | ) |  |  | — |  |  |  | (270 | ) |
Results of operations |  | $ | 4,240 |  |  | $ | (2,486 | ) |  | $ | 902 |  |
Depreciation, depletion and amortization per Boe |  | $ | 9.83 |  |  | $ | 9.90 |  |  | $ | 11.72 |  |
Proved Reserves | The following table presents Devon’s estimated proved reserves by product.
|  | Oil (MMBbls) |  |  | Gas (Bcf) (1) |  |  | NGL (MMBbls) |  |  | Combined (MMBoe) |
Proved developed and undeveloped reserves: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2018 |  |  | 296 |  |  |  | 1,802 |  |  |  | 227 |  |  |  | 823 |
Revisions due to prices |  |  | (7 | ) |  |  | (86 | ) |  |  | (6 | ) |  |  | (28 | )
Revisions other than price |  |  | (13 | ) |  |  | (50 | ) |  |  | (9 | ) |  |  | (31 | )
Extensions and discoveries |  |  | 76 |  |  |  | 269 |  |  |  | 39 |  |  |  | 160 |
Purchase of reserves |  |  | 3 |  |  |  | 7 |  |  |  | 1 |  |  |  | 6 |
Production |  |  | (55 | ) |  |  | (219 | ) |  |  | (28 | ) |  |  | (119 | )
Sale of reserves |  |  | (24 | ) |  |  | (102 | ) |  |  | (13 | ) |  |  | (54 | )
December 31, 2019 |  |  | 276 |  |  |  | 1,621 |  |  |  | 211 |  |  |  | 757 |
Revisions due to prices |  |  | (26 | ) |  |  | (209 | ) |  |  | (17 | ) |  |  | (78 | )
Revisions other than price |  |  | 18 |  |  |  | 119 |  |  |  | 17 |  |  |  | 55 |
Extensions and discoveries |  |  | 71 |  |  |  | 188 |  |  |  | 33 |  |  |  | 135 |
Purchase of reserves |  |  | 1 |  |  |  | 19 |  |  |  | 3 |  |  |  | 7 |
Production |  |  | (57 | ) |  |  | (221 | ) |  |  | (28 | ) |  |  | (122 | )
Sale of reserves |  |  | (1 | ) |  |  | (5 | ) |  |  | (1 | ) |  |  | (2 | )
December 31, 2020 |  |  | 282 |  |  |  | 1,512 |  |  |  | 218 |  |  |  | 752 |
Revisions due to prices |  |  | 55 |  |  |  | 382 |  |  |  | 36 |  |  |  | 155 |
Revisions other than price |  |  | (23 | ) |  |  | 11 |  |  |  | 64 |  |  |  | 43 |
Extensions and discoveries |  |  | 112 |  |  |  | 348 |  |  |  | 58 |  |  |  | 228 |
Purchase of reserves |  |  | 393 |  |  |  | 961 |  |  |  | 110 |  |  |  | 663 |
Production |  |  | (106 | ) |  |  | (325 | ) |  |  | (48 | ) |  |  | (209 | )
Sale of reserves |  |  | (4 | ) |  |  | (11 | ) |  |  | (1 | ) |  |  | (7 | )
December 31, 2021 |  |  | 709 |  |  |  | 2,878 |  |  |  | 437 |  |  |  | 1,625 |
Proved developed reserves: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2018 |  |  | 196 |  |  |  | 1,427 |  |  |  | 166 |  |  |  | 600 |
December 31, 2019 |  |  | 198 |  |  |  | 1,344 |  |  |  | 167 |  |  |  | 589 |
December 31, 2020 |  |  | 194 |  |  |  | 1,244 |  |  |  | 173 |  |  |  | 574 |
December 31, 2021 |  |  | 544 |  |  |  | 2,361 |  |  |  | 348 |  |  |  | 1,285 |
Proved developed-producing reserves: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2018 |  |  | 188 |  |  |  | 1,394 |  |  |  | 162 |  |  |  | 582 |
December 31, 2019 |  |  | 191 |  |  |  | 1,327 |  |  |  | 165 |  |  |  | 578 |
December 31, 2020 |  |  | 190 |  |  |  | 1,223 |  |  |  | 171 |  |  |  | 564 |
December 31, 2021 |  |  | 533 |  |  |  | 2,316 |  |  |  | 341 |  |  |  | 1,260 |
Proved undeveloped reserves: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2018 |  |  | 100 |  |  |  | 375 |  |  |  | 61 |  |  |  | 223 |
December 31, 2019 |  |  | 78 |  |  |  | 277 |  |  |  | 44 |  |  |  | 168 |
December 31, 2020 |  |  | 88 |  |  |  | 268 |  |  |  | 45 |  |  |  | 178 |
December 31, 2021 |  |  | 165 |  |  |  | 517 |  |  |  | 89 |  |  |  | 340 |
(1) | Gas reserves are converted to Boe at the rate of six Mcf per Bbl of oil, based upon the approximate relative energy content of gas and oil. NGL reserves are converted to Boe on a one-to-one basis with oil. The conversion rates are not necessarily indicative of the relationship of oil, natural gas and NGL prices.
Proved Undeveloped Reserves |
|  | Total |
Proved undeveloped reserves as of December 31, 2020 |  |  | 178 |
Extensions and discoveries |  |  | 160 |
Revisions due to prices |  |  | 8 |
Revisions other than price |  |  | 11 |
Purchase of reserves |  |  | 90 |
Sale of reserves |  |  | — |
Conversion to proved developed reserves |  |  | (107 | )
Proved undeveloped reserves as of December 31, 2021 |  |  | 340 |
Standardized Measure of Discounted Future Cash Flows Relating to Proved Reserves | The following tables reflect Devon’s standardized measure of discounted future net cash flows from its proved reserves.
|  | Year Ended December 31, |
|  | 2021 |  | 2020 |  |  | 2019 |
Future cash inflows |  | $ | 66,321 |  | $ | 14,957 |  |  | $ | 20,750 |
Future costs: |  |  |  |  |  |  |  |  |  |  |
Development |  |  | (3,689 | ) |  | (1,747 | ) |  |  | (2,093 | )
Production |  |  | (22,975 | ) |  | (7,964 | ) |  |  | (9,174 | )
Future income tax expense |  |  | (6,423 | ) |  | — |  |  |  | (1,037 | )
Future net cash flow |  |  | 33,234 |  |  | 5,246 |  |  |  | 8,446 |
10% discount to reflect timing of cash flows |  |  | (13,933 | ) |  | (1,774 | ) |  |  | (3,048 | )
Standardized measure of discounted future net cash flows |  | $ | 19,301 |  | $ | 3,472 |  |  | $ | 5,398 |
Schedule Of Principal Changes In The Standardized Measure Of Discounted Future Net Cash Flows Attributable To Proved Reserves |
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
Beginning balance |  | $ | 3,472 |  |  | $ | 5,398 |  |  | $ | 7,150 |
Net changes in prices and production costs |  |  | 8,274 |  |  |  | (3,277 | ) |  |  | (2,323 | )
Oil, gas and NGL sales, net of production costs |  |  | (7,400 | ) |  |  | (1,572 | ) |  |  | (2,612 | )
Changes in estimated future development costs |  |  | (414 | ) |  |  | 402 |  |  |  | 303 |
Extensions and discoveries, net of future development costs |  |  | 3,877 |  |  |  | 988 |  |  |  | 1,690 |
Purchase of reserves |  |  | 12,460 |  |  |  | 23 |  |  |  | 43 |
Sales of reserves in place |  |  | (12 | ) |  |  | (7 | ) |  |  | (481 | )
Revisions of quantity estimates |  |  | 838 |  |  |  | 147 |  |  |  | (359 | )
Previously estimated development costs incurred during the period |  |  | 663 |  |  |  | 537 |  |  |  | 857 |
Accretion of discount |  |  | 1,218 |  |  |  | 285 |  |  |  | 506 |
Net change in income taxes and other |  |  | (3,675 | ) |  |  | 548 |  |  |  | 624 |
Ending balance |  | $ | 19,301 |  |  | $ | 3,472 |  |  | $ | 5,398 |

X
- Definition Proved undeveloped reserves. + References No definition available. + Details
Name: | dvn_ProvedUndevelopedReservesTableTextBlock
Namespace Prefix: | dvn_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the aggregate change in the standardized measure of discounted future net cash flows relating to proved oil and gas reserves and oil and gas subject to purchases under long-term agreements in which the enterprise participates in the operation of the properties on which oil and gas is located or otherwise serves as the producer. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Form 20-F -Section Item 18 -Subsection Instruction 2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e62500-109447 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 36 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e62536-109447 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e62496-109447 + Details
Name: | srt_ScheduleOfChangesInStandardizedMeasureOfDiscountedFutureNetCashFlowsTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the net quantities of an enterprise's interests in proved developed and undeveloped reserves of (a) crude oil (including condensate and natural gas liquids), (b) natural gas (including coal bed methane), (c) synthetic oil, (d) synthetic gas, and (e) other nonrenewable natural resources that are intended to be upgraded during the period as of the beginning of the period, changes in quantities during the period, and as of the end of the period. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher SEC -Name Form 20-F -Section Item 18 -Subsection Instruction 2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e61884-109447 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e61858-109447 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e61872-109447 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e61831-109447 Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e61797-109447 Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e61869-109447 + Details
Name: | srt_ScheduleOfProvedDevelopedAndUndevelopedOilAndGasReserveQuantitiesTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the future net cash flows relating to proved oil and gas reserves and oil and gas subject to purchase under long-term agreements in which the enterprise participates in the operation of the properties on which the oil and gas is located or otherwise serves as the producer. This information is presented in aggregate and for each geographic area for which reserve quantities are disclosed. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Form 20-F -Section Item 18 -Subsection Instruction 2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e62476-109447 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 36 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e62536-109447 Reference 4: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 55 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=34713648&loc=d3e63094-109448 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e62424-109447 Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e62479-109447 Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e62455-109447 + Details
Name: | srt_StandardizedMeasureOfDiscountedFutureCashFlowsRelatingToProvedReservesDisclosureTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the aggregate of costs (whether the costs are capitalized or charged to expense at the time they are incurred ) incurred for the year in oil and gas property acquisition, exploration and development activities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e62059-109447 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 410 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6392692&loc=d3e7535-110849 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 55 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=34713648&loc=d3e63042-109448 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 18 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e62014-109447 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e62038-109447 + Details
Name: | us-gaap_CostIncurredInOilAndGasPropertyAcquisitionExplorationAndDevelopmentActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_OilAndGasExplorationAndProductionIndustriesDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the results of operations for oil and gas producing activities for the year. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 23 -URI http://asc.fasb.org/extlink&oid=123377692&loc=d3e62136-109447 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 55 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=34713648&loc=d3e63071-109448 + Details
Name: | us-gaap_ResultsOfOperationsForOilAndGasProducingActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration